Question
hich of the following is not a qualitative
characteristic of accounting?Solution
Qualitative characteristics of accounting include understandability, timeliness, reliability, and comparability. "Conformity" is not considered a qualitative characteristic within the conceptual framework of accounting. The focus of qualitative characteristics is on ensuring that financial information is useful and understandable to users.
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The Ministry of Women and Child Development (MoWCD) is an apex body for formulation and administration of the rules and regulations and laws relating to...
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